Shares of Mueller Industries, Inc. (NYSE:MLI) have been assigned a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation.
Zacks has also assigned Mueller Industries an industry rank of 216 out of 257 based on the ratings given to related companies.
Several analysts recently weighed in on the stock. TheStreet cut shares of Mueller Industries from a “b-” rating to a “c+” rating in a research note on Monday, October 29th. Zacks Investment Research lowered shares of Mueller Industries from a “hold” rating to a “strong sell” rating in a report on Friday, October 26th. Boenning Scattergood restated a “hold” rating on shares of Mueller Industries in a report on Tuesday, October 23rd. Finally, ValuEngine lowered shares of Mueller Industries from a “hold” rating to a “sell” rating in a report on Monday, September 17th.
In other news, Director Scott Jay Goldman bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The shares were acquired at an average price of $33.24 per share, for a total transaction of $33,240.00. Following the completion of the acquisition, the director now directly owns 11,000 shares in the company, valued at $365,640. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Terry Hermanson bought 4,000 shares of the company’s stock in a transaction that occurred on Thursday, October 25th. The stock was purchased at an average price of $25.04 per share, for a total transaction of $100,160.00. Following the acquisition, the director now owns 29,126 shares of the company’s stock, valued at $729,315.04. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 16,000 shares of company stock worth $413,900. 2.80% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Mueller Industries in the second quarter valued at $359,000. Bank of New York Mellon Corp raised its holdings in shares of Mueller Industries by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 827,959 shares of the industrial products company’s stock valued at $24,434,000 after purchasing an additional 10,289 shares during the period. United Services Automobile Association raised its holdings in shares of Mueller Industries by 20.8% during the second quarter. United Services Automobile Association now owns 610,378 shares of the industrial products company’s stock valued at $18,012,000 after purchasing an additional 105,240 shares during the period. Rhumbline Advisers raised its holdings in shares of Mueller Industries by 1.3% during the second quarter. Rhumbline Advisers now owns 157,900 shares of the industrial products company’s stock valued at $4,660,000 after purchasing an additional 2,090 shares during the period. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of Mueller Industries during the second quarter valued at about $203,000. Institutional investors and hedge funds own 92.79% of the company’s stock.
Shares of Mueller Industries stock traded down $1.03 during trading on Monday, hitting $25.32. The company’s stock had a trading volume of 215,396 shares, compared to its average volume of 270,189. The company has a quick ratio of 1.83, a current ratio of 3.12 and a debt-to-equity ratio of 0.87. Mueller Industries has a 52 week low of $23.32 and a 52 week high of $37.57. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 16.99 and a beta of 1.50.
Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). Mueller Industries had a return on equity of 15.29% and a net margin of 3.37%. The business had revenue of $645.96 million during the quarter, compared to the consensus estimate of $583.39 million. As a group, equities analysts anticipate that Mueller Industries will post 1.5 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.58%. Mueller Industries’s payout ratio is 26.85%.
About Mueller Industries
Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, Asia, and Mexico. Its Piping Systems segment manufactures copper tubes and fittings, plastic fittings, line sets, and related components for water distribution system, heating system, air-conditioning, and refrigeration applications, as well as drainage, waste, and vent systems.
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